European markets are trading flatly albeit with a slight negative bias. Indian markets however are looking positive now and trading amidst some gains. FMCG and capital goods are providing impetus to the upwards and onwards momentum while auto sector appears to be under selling pressure. Sensex is on 20049, in the positive by 66 points since its previous close, while Nifty is on 6004, in the positive by 24 points. CNX Midcap index is down 0.1% and BSE Smallcap index is up 0.3%. The market breadth is positive with advances at 712 against declines of 565 on the NSE.
News Wrap Up:
1. Havells to invest 1.2 bn rupees to double capacity
2. Bharti to sell stake in Bharti-AXA Mutual Fund
3. Onion prices to drop in next few days: Dikshit
4. Rupee down 2 paise against in early trade
5. iGate-Apax closes in on Patni deal
6. Food inflation back in double digits
7. Sathavahana Ispat surges on expansion
8. GPI, ITC resume cigarette production
9. Tata Global relaunches Tata Tea Premium
10. SKS to limit portfolio in each state to 10%
Nifty to follow global cues. Nifty spot if manages to trade and sustain above 6000-6022 level then we can see some recovery in the market and if Nifty spot breaks and trade below 5960 then some profit booking may follow in the market. Please note this is just opening view and should not be considered as view for whole day.
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